The Fed Blog

Wednesday, February 13, 2013

US Business Sales (Excerpt)

Business sales of goods rose to a new record high of $15.3 trillion (saar) in the US during December. They are up 3.6% y/y. That’s all good news and supports our view that the y/y growth rates in both S&P 500 revenues and earnings should rebound from 1.1% and 1.4%, respectively, during Q3-2012 to 5%-7% this year. (So far, the Q4-2012 company reports suggest that revenues are up around 3.7% and earnings are up 6.3% compared to a year ago.) The resilience of the US economy late last year, as the dreaded fiscal cliff seemed imminent, was impressive.

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ABOUT: Dr. Ed Yardeni is the President and Chief Investment Strategist of Yardeni Research, Inc., a provider of independent investment strategy and economics research. This blog highlights excerpts from our research service, which is designed for investment and business professionals.

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